Beat-and-Raise Pushes Walmart Stock Higher

Shares are trading at their highest level since November

Digital Content Manager
May 18, 2023 at 10:46 AM
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Walmart Inc (NYSE:WMT) announced better-than-expected first-quarter earnings and revenue this morning. The retailer also hiked its annual sales and profit targets, as high inflation drives consumers to seek more affordable options for groceries. At last check, WMT is up 2.2% to trade at $152.79. 

Options volume is today running at eight times the intraday average, with 51,000 calls and 23,000 puts exchanged so far. The most popular contract is the May 155 call, where new positions being bought to open, followed by the 157.50 call in the same series.

This indicates a shift in sentiment, given the security's 50-day put/call volume ratio at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) stands in the 76th percentile of readings from the past 12 months. 

Now could be an opportune time to weigh in on Walmart stock's next move with options. This is per its Schaeffer's Volatility Index (SVI) of 22%, which sits in the 26th percentile of its annual range. 

The shares are today trading at their highest level since November, after bouncing off the 40-day moving average yesterday. The security is also looking to snap a four-day losing streak, and is up 24.8% year-over-year. 

 

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